June 18 Financial Quick Takes: Biohaven sinks on fund-raising news; plus IPO trio sets terms

Amid buyout rumors, Biohaven proposes follow-on
Biohaven Pharmaceutical Holding Co. Ltd. (NYSE:BHVN) lost $13.54 (24%) to $43.83 on Tuesday, shedding more than half a billion dollars in market cap, after it proposed to raise $300 million in a follow-on underwritten by Goldman Sachs and Piper Jaffray. Reports circulated in April that Biohaven had attracted M&A interest; its shares traded at an all-time intraday high of $67.86 on June 7.

Three biotechs in IPO queue propose financial terms...